Rising food and pump prices took annual inflation higher in September, surging to 4.0%, according to the Consumer Price Index (CPI). The CPI increased by 1.33 units, reaching 117.67 units, from 116.34 units in August, when the inflation rose to 2.6%. For the nine months to September, the CPI recorded a 4.0% increase compared to
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Turkey has proposed “joint exploitation” of Cyprus’ natural resources to abandon the talks framework based on a bizonal, bicommunal federal solution for one of two states. Turkish Foreign Affairs Minister Hakan Fidan has tabled the idea that Turkish Cypriots and Greek Cypriots could jointly exploit the divided island’s natural resources, much like an agreement between
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A Cyprus court on Thursday adjourned the trial of five Israelis charged with raping a British woman pending the submission of material evidence by prosecutors. Police arrested the five Israeli youths, aged 19 and 20, after a British woman reported they allegedly raped her after forcing her into a hotel room at the resort of
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By Lukman Otunuga, Senior Market Analyst at FXTM Asian shares staged a rebound on Thursday following the broadly positive cues from Wall Street overnight as plunging oil prices and weak US jobs data lifted market sentiment. Europe opened positive amid the improving mood with investors directing their attention toward Friday’s US payrolls report which could
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Cyprus-based airline TUS Airways operated its first flight to Dubai from Larnaca on October 1. Flight U8 684, operated by a modern Airbus A320 aircraft, was welcomed with an opening ceremony attended by Commerce Minister George Papanastasiou, Meropi Christofi, the Ambassador of Cyprus to the UAE; Majed Al Joker, Chief Operations Officer of Dubai Airports;
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Another sorry chapter was added to the Halloumi saga, as cattle farmers, cheesemakers and the government fire at each other, accusing the other side of not sticking to a truce struck last year. In comments to state radio CyBC on Wednesday, agriculture ministry undersecretary Andreas Gregoriou said the agreement signed by cheesemakers, sheep and goat
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The European Central Bank is determined to promptly ensure that inflation returns to its 2% medium-term target, said ECB Vice-President Luis de Guindos. In his keynote speech at a Central Bank of Cyprus conference in Limassol, de Guindos said that the September ECB staff macroeconomic projections see average inflation at 5.6% in 2023, 3.2% in
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A strong Cyprus ship registry strengthens the country’s voice, making it a protagonist in formulating maritime policy and sending a clear message that illegal restrictive measures and violations of international law cannot be accepted, said Shipping Minister Marina Hadjimanolis. She commented at a conference to launch “Maritime Cyprus 2023”. The conference, taking place on October
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Cyprus encourages every state to acknowledge the existence of femicide, UN Ambassador Andreas Hadjichrysanthou said, noting the Cypriot parliament was the first in Europe to adopt such a law. Addressing the UN Third Committee on “Advancement of Women”, he said that Cyprus is determined to intensify efforts to eliminate all forms of discrimination against women and
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By Craig Erlam It’s been a wild couple of days in financial markets from a potential FX intervention to interest rate decisions and vast amounts of economic data, not to mention a gathering of some of the world’s largest oil producers. And yet it doesn’t really feel like a lot has changed. The yen is
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